Payment Processor Remitly Plans Stablecoin Rollout for International Transfers
Main Idea
Remitly is launching a multi-currency wallet supporting fiat and stablecoins in partnership with Bridge, aiming to improve speed, reliability, and cost efficiency for global remittances.
Key Points
1. Remitly Wallet, a multi-currency digital wallet, will launch in September 2025 through a partnership with Bridge, a stablecoin infrastructure provider owned by Stripe.
2. The wallet will support stablecoin payouts, enhancing the flexibility and reach of Remitly’s global disbursement network across over 170 countries.
3. Remitly’s existing fiat payment network includes bank transfers, mobile wallets, and cash pickup at over 470,000 locations, with stablecoins now integrated into its treasury operations.
4. Stablecoins, particularly dollar-backed ones, offer users a way to hold money resistant to local inflation while maintaining liquidity, addressing high global remittance fees averaging 6.26%.
5. Remitly previously supported fiat off-ramps for platforms like Coinbase and Novi, reflecting its early involvement in crypto and broader industry trends toward digital financial tools.
Description
Remitly plans to introduce stablecoin functionality to its global payment network, marking a big shift in how the remittance company enables international money transfers. The Seattle-based fintech, known for serving immigrants and overseas workers, aims to improve speed, reliability and cost efficiency for users in over 170 countries. The company announced Monday it will begin integrating stablecoins across three key areas of its business — value storage, treasury operations and global disburse...
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